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One of the end of the financial world ideas that gets floated on a regular basis is that the Dollar will lose its status as the worlds reserve currency to the Chinese Yuan or Euro, and to a lesser extent the blockchain crypto currencies such as Bitcoin, most recently. Looking at global US Dollar denominated trade shows that in fact the Dollar has been tightening its grip on international trade in the last several years primarily at the expense of the Euro reaching an impressive 87.6% of the 5.1 trillion Dollar daily foreign exchange market, as per data from the BIS or Bank for International Settlements. A similar picture is seen with foreign exchange reserves of central banks as again the US Dollar has increased market share primarily at the expense of the Euro to 63.6%, also as per the BIS. With English the official language of global finance, something the Brexit doom and gloom crowd should take note of, and a lack of viable foreign exchange alternatives the Dollars reign as global reserve currency looks set to continue for the foreseeable future, rendering the Federal Reserve as the worlds defacto central bank and administrator of monetary policy including interest rates.

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